When To Make a Trust

Any Sacramento estate planning lawyer will tell you when to make a Trust. A Trust is one of the most important documents you can create. It spells out your wishes for how your property and possessions should be distributed after you die. If you die without a Trust or will, California state laws will determine who gets your property—and it may not be who you would have chosen.

Creating a Trust gives you the peace of mind of knowing that your final wishes will be carried out. And, if you have minor children, you can also create a will which allows you to name a guardian for them. Again, without a will, the state will make that decision for you.

Keep in mind that a Trust is just one part of an overall estate plan. You may also need other documents, such as power of attorney forms. You should also have beneficiary designation forms for accounts such as your retirement plan and life insurance policy. These designations take precedence over what’s stated in your Trust. 

When To Make a Trust?

You should create a Trust when any of the following apply:

• You’re 18 or older
• You own property 
• You want to name someone to care for your minor children 
• You want to name an trustee —the person who carries out the instructions in your Trust
• You want to make funeral or burial arrangements 

Of course, there are other reasons why you might want to create or update your Trust. For example, if you get married, divorced, or have another major life change, it’s a good idea to review your Trust to make sure it still reflects your wishes. 

The bottom line is that while none of us like to think about our own mortality, it is important to be prepared for the inevitable. Creating a Trust is a necessary step in ensuring that your final wishes are carried out the way you want them to be. Whether you’re young or old, wealthy or not, everyone can benefit from having a Trust. 

So, if you don’t already have one, now is the time to create one. Doing so will give you peace of mind knowing that your affairs are in order and that your loved ones are taken care of according to your wishes. If you need assistance getting started, contact the Copenbarger law firm at (800) 244-8814 to schedule a consultation. 

If you have any further questions about estate planning and strategies to shield your wealth, or if you’d like to have your current asset protection plan reviewed to make sure it still meets your needs, please contact us at one of our offices located throughout the state of California 800-244-8814 to set up a consultation.